Principal Financial Group Inc. Boosts Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Principal Financial Group Inc. raised its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,921,381 shares of the technology company’s stock after buying an additional 128,172 shares during the period. Principal Financial Group Inc.’s holdings in Lumen Technologies were worth $26,133,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LUMN. CWM LLC increased its holdings in shares of Lumen Technologies by 49.6% in the 3rd quarter. CWM LLC now owns 15,692 shares of the technology company’s stock worth $111,000 after buying an additional 5,202 shares during the last quarter. Creative Planning increased its holdings in shares of Lumen Technologies by 8.2% in the 3rd quarter. Creative Planning now owns 323,628 shares of the technology company’s stock worth $2,298,000 after buying an additional 24,565 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Lumen Technologies in the 3rd quarter worth $46,000. Greenleaf Trust bought a new position in shares of Lumen Technologies during the 3rd quarter valued at $99,000. Finally, Ballentine Partners LLC grew its holdings in shares of Lumen Technologies by 114.8% during the 3rd quarter. Ballentine Partners LLC now owns 26,206 shares of the technology company’s stock valued at $186,000 after purchasing an additional 14,005 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Down 0.3 %

Shares of Lumen Technologies stock opened at $4.68 on Friday. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The stock has a market capitalization of $4.74 billion, a PE ratio of -93.48 and a beta of 1.28. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The company has a 50-day simple moving average of $5.34 and a two-hundred day simple moving average of $6.19.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LUMN shares. Citigroup increased their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. The Goldman Sachs Group increased their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. TD Cowen reduced their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, Lumen Technologies presently has a consensus rating of “Hold” and an average target price of $4.78.

Lumen Technologies Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.